Petrobras Continues Divestment Plan and Secures Approval from Cade for Sale of Oil Fields to BW Energy

Written by Ruth Rodrigues

Published on 01/08/2022 at 21:56

Foto: Geraldo Falcão/Agência Petrobras

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Cade Has Just Approved Another Round of Petrobras Concessions to the Private Sector, This Time the Complete or Partial Participation of Oil Fields Throughout Brazil, Which Will Be Managed by BW Energy.

Recently, the General Superintendence of the Administrative Council for Economic Defense (SG/Cade) approved the sale of assets from Petrobras in the oil fields of Golfinho, Canapu, Camarupim, and Camarupim Norte to BW Energy. This is another round of divestments by the state-owned company in its assets in the national oil and gas sector and is part of the company’s concession plan for the year 2022.

BW Energy Receives Cade Approval to Acquire Petrobras’ Stake in National Oil Fields

Petrobras continues its policy of granting its assets to the private sector and has obtained Cade’s approval for another round of selling stakes in national oil fields.

This time to BW Energy, which seeks to invest in the Brazilian oil and gas sector. The superintendency of the agency then approved the concession of the entirety of participation in the fields of Golfinho and Canapu, 65% participation in block BM-ES-23, and 100% participation in the fields of Camarupim and Camarupim Norte (Camarupim Cluster).

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Sale Process of State-Owned Oil Fields to BW Energy May Be Finalized Soon, Provided No Issues Arise with Cade

The approval from the General Superintendence of the Administrative Council for Economic Defense (SG/Cade) for the sale of the oil fields of Golfinho, Canapu, Camarupim, and Camarupim Norte to BW Energy secures a significant part of the transaction process for Petrobras.

However, there is still the review period for the process, and if the Cade Court does not decide to call the concentration acts for analysis or if there is no appeal from interested third parties, the transaction could be finalized in 15 days.

BW Energy is part of the BW Group subsidiaries and is ultimately controlled by BW Energy Limited, a company based in Oslo, Norway, focused on oil and natural gas exploration in the national territory. Currently, the company has its main operational portfolio in the Maromba Field, located in the Campos Basin (RJ), in which it holds 100% participation.

With Cade’s approval for the purchase of Petrobras’ oil and natural gas fields in the Espírito Santo Basin region, the company will be able to invest in new exploratory campaigns and expand fuel production in the Brazilian market, taking advantage of the sector’s growth.

Petrobras Continues Divestment Plan and Secures Approval from Cade for Sale of Oil Fields to BW Energy

Cade Has Just Approved Another Round of Petrobras Concessions to the Private Sector, This Time the Complete or Partial Participation of Oil Fields Throughout Brazil, Which Will Be Managed by BW Energy.

BW Energy Receives Cade Approval to Acquire Petrobras’ Stake in National Oil Fields

Sale Process of State-Owned Oil Fields to BW Energy May Be Finalized Soon, Provided No Issues Arise with Cade

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Petrobras Continues Divestment Plan and Secures Approval from Cade for Sale of Oil Fields to BW Energy

Cade Has Just Approved Another Round of Petrobras Concessions to the Private Sector, This Time the Complete or Partial Participation of Oil Fields Throughout Brazil, Which Will Be Managed by BW Energy.

BW Energy Receives Cade Approval to Acquire Petrobras’ Stake in National Oil Fields

Sale Process of State-Owned Oil Fields to BW Energy May Be Finalized Soon, Provided No Issues Arise with Cade

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Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

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With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

China has begun the second phase of energy assistance to Cuba with a 120 MW solar generation plan, and the first result is a photovoltaic park with batteries that regulates voltage, controls frequency, and provides local autonomy to an island suffocated by chronic blackouts.

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